With all the manipulation that's been going on recently, I believe we might have seen another bottom today. Monday's price action looked like a continuation of Friday's. We did get a retest of the 11.90 level, which is a very important area of support. IF we break above this ascending triangle, which lately it has been doing almost always, then I believe we will make a quick jump back to the 14.00 level. IF, it breaks down, then I am actually expecting some bearish downside as we are very close to a critical support. I do not want to see another retest of the 11.90 level again, but if it does, I will de-risk and look to buy back in lower, possibly at 9.83. I'm still confident we are on a path to bullish continuation, but the probability of seeing $17.00 by the week's end will be diminished the more we retest the low 12.00s.
Nota
UltracombobreakerStop spreading FUD. I will continue to take bullish positions on
AMC as long as the chart tells me to.Nota
Unfortunately, the bearish scenario played out. I'm waiting to see how tomorrow morning plays out, but I'll be honest, it's not looking good at the moment. However, I'm not quite ready to jump off the ship just yet. I'm expecting a bounce as AMC is very oversold on many time frames.Nota
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PERFECT bounce off the bottom trendline of the symmetrical triangle. BULLS ARE STILL IN THE GAME. Nota
I BOUGHT 13.50 CALL OPTIONS FOR APR 1. LET'S F*CKING GET IT.
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